SEAMUSD 12/7/2024
SEAMUSD Daily Chart Analysis
This coin entered a significant downtrend between May and October 2024 but found bottom November 2024.
• Trend Reversal: In early November 2024, the price found its floor and began moving sideways, forming a triple bottom reversal pattern.
• Breakout Confirmation: At the start of December, the price broke out above the previous resistance on a spike in volume, confirming the reversal pattern and signaling the end of the accumulation phase.
• Consolidation Phase: Post-breakout, the price moved sideways, forming a series of small doji candlesticks supported by the 10-day EMA. This indicates low volatility and a temporary pause in the trend.
Technical Indicators:
• MACD: Above its signal line and moving into bullish territory, suggesting building momentum.
• Volume: Spiked during the breakout, validating the bullish move.
• EMA Support: The 10-day EMA continues to act as a strong support level, reinforcing bullish sentiment.
With BTC momentum at all-time highs and technical indicators aligning, SEAMUSD presents a strong bullish setup.
Entering Trade Long:
• Entry: 1.3665
• Stoploss: 1.1331 (-17.08%)
• Target: 2.9878 (+118.65%, 6.95 RR ratio)
SEAMUSD Summary
SEAMUSD shows strong signs of a bullish reversal after a prolonged downtrend. Following a confirmed triple bottom pattern and a breakout with high volume, the price has entered a consolidation phase supported by the 10-day EMA. With the MACD in bullish territory and BTC at all-time highs, this setup offers a high-probability trade opportunity.
This coin entered a significant downtrend between May and October 2024 but found bottom November 2024.
• Trend Reversal: In early November 2024, the price found its floor and began moving sideways, forming a triple bottom reversal pattern.
• Breakout Confirmation: At the start of December, the price broke out above the previous resistance on a spike in volume, confirming the reversal pattern and signaling the end of the accumulation phase.
• Consolidation Phase: Post-breakout, the price moved sideways, forming a series of small doji candlesticks supported by the 10-day EMA. This indicates low volatility and a temporary pause in the trend.
Technical Indicators:
• MACD: Above its signal line and moving into bullish territory, suggesting building momentum.
• Volume: Spiked during the breakout, validating the bullish move.
• EMA Support: The 10-day EMA continues to act as a strong support level, reinforcing bullish sentiment.
With BTC momentum at all-time highs and technical indicators aligning, SEAMUSD presents a strong bullish setup.
Entering Trade Long:
• Entry: 1.3665
• Stoploss: 1.1331 (-17.08%)
• Target: 2.9878 (+118.65%, 6.95 RR ratio)
SEAMUSD Summary
SEAMUSD shows strong signs of a bullish reversal after a prolonged downtrend. Following a confirmed triple bottom pattern and a breakout with high volume, the price has entered a consolidation phase supported by the 10-day EMA. With the MACD in bullish territory and BTC at all-time highs, this setup offers a high-probability trade opportunity.
Trade active
Trade closed: stop reached
Stoploss: 1.1331 (-17.08%)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.